One is the producer of the massively successful Paranormal Activity franchise. The other has penned the last three Fast & Furiousmovies.And now they're ready to join forces.

According to The Hollywood Reporter, Jason Blum and Chris Morgan are teaming up to produce a brand new low-budget sci-fi thriller together under their respective Blumhouse and Chris Morgan Productions banners. While larger details about the plot are currently being kept under wraps, the trade says the story will focus on a group of clever students who invent a brand new kind of technology "with ramifications that go far beyond their control." Both producers have first-look deals set up with Universal Pictures, meaning that it's likely the project will end up going there when it comes time for distribution.

Despite Morgan's experience as a writer, the pen will be handed over to Christopher Denham, an actor-turned-writer who you may remember as one of the American embassy workers trapped in Iran in Ben Affleck's Best Picture-winning Argo. THR notes that Denham actually has a history with Blum, as he scripted Oren Peli's Area 51, which has been sitting on a shelf for about four years now.

Both Blum and Morgan still have projects coming up in 2013. Like he has for the last three, Morgan wrote the script for Fast & Furious 6 (which will be in theaters next month), while Blum is credited with producing multiple titles including James DeMonaco's sci-fi horror The Purge; James Wan's anticipated sequel Insidious: Chapter 2; and the Jason Friedberg/Aaron Seltzer comedy Best Night Ever.